Coherent Significantly Reduces Its Global Carbon Footprint With the Establishment of Worldwide Renewable Energy Contracts
April 21 2023 - 6:00AM
Coherent Corp. (NYSE: COHR), a global leader in materials,
networking, and lasers, today announced that the company is now
obtaining greater than 50% of its global electricity needs from
renewable energy sources. Coherent powers more than 80% of its
sites around the world from renewable electricity. In total, this
represents over 500 million kWh of renewable electricity per year,
thereby avoiding over 85,000 metric tons of CO2 emissions annually.
Coherent has set as a top priority the reduction of its carbon
footprint across its global operations. The company already powers
all its facilities in Europe with 100% renewable electricity
sources. Its highest-energy-consuming site in China (Fuzhou) is now
also using 100% renewable electricity, and its largest-footprint
plant in China (Wuxi) is on track to ramp to 100% renewable
electricity by 2025. The company now has solar installations online
or planned at several facilities in Germany, as well as operational
solar-energy systems in the U.S., the U.K., and Vietnam.
“We are fulfilling the commitment we announced last year to
increase the sustainability in our energy supply across our global
footprint,” said Tim Challingsworth, Chief Sustainability Officer.
“We are proud to announce these latest accomplishments in
conjunction with the celebration of International Mother Earth Day
around the world.”
Coherent’s engineering teams are driving energy efficiency and
yield-improvement projects that will save approximately 15 million
kWh of energy this year. Coherent is also working to eliminate
fossil fuel usage in its facilities. For example, its Zurich
facility has reduced fuel oil consumption by approximately 50% and
plans to eliminate its use entirely by 2025.
Coherent is committed to human rights, sustainability,
compliance, diversity, responsible business conduct, and adherence
to high ethical standards, as highlighted in its 2022 ESG Report,
released last October.
About Coherent
Coherent empowers market innovators to define the future through
breakthrough technologies, from materials to systems. We deliver
innovations that resonate with our customers in diversified
applications for the industrial, communications, electronics, and
instrumentation markets. Headquartered in Saxonburg, Pennsylvania,
Coherent has research and development, manufacturing, sales,
service, and distribution facilities worldwide. For more
information, please visit us at coherent.com.
Contact
Mark LourieVice President, Corporate
Communicationscorporate.communications@coherent.com
Coherent (NYSE:COHR)
Historical Stock Chart
From Sep 2024 to Oct 2024
Coherent (NYSE:COHR)
Historical Stock Chart
From Oct 2023 to Oct 2024